TSX Venture Exchange Daily Bulletins - Addition

VANCOUVER, July 30 /CNW/ -

    
    TSX VENTURE COMPANIES:

    BIRCH LAKE CAPITAL INC. ("BLA")
    (formerly Birch Lake Capital Inc. ("BLA.P"))
    BULLETIN TYPE: Reinstated for Trading, Qualifying Transaction-
    Completed/New Symbol
    BULLETIN DATE: July 30, 2010
    TSX Venture Tier 2 Company

    Reinstated for Trading:

    Further to TSX Venture Exchange Bulletin dated April 27, 2010, the Company
has now completed its Qualifying Transaction.
    Effective at the opening, Wednesday, August 4, 2010, trading will be
reinstated in the securities of the Company (CUSIP 090685 10 8).
    TSX Venture Exchange has accepted for filing the Company's Qualifying
Transaction described in its Filing Statement dated July 26, 2010. As a
result, at the opening on Wednesday, August 4, 2010, the Company will no
longer be considered a Capital Pool Company. The Qualifying Transaction
includes the following:

    Qualifying Transaction-Completed:

    The Qualifying Transaction involves the arm's length amalgamation (the
"Amalgamation") of 0885186 B.C. Ltd. ("AcquisitionCo"), a wholly-owned
subsidiary of the Company, and Canadian Rigger Energy Inc. ("Canadian
Rigger"), a private British Columbia oil and gas company, pursuant to an
amalgamation agreement dated July 26, 2010. Pursuant to the Amalgamation,
AcquisitionCo and Canadian Rigger amalgamated to form a new amalgamated entity
("Amalco"). Post-Amalgamation, Amalco will be a wholly-owned subsidiary of the
Company. The Amalgamation results in a reverse take over of Birch Lake by
Canadian Rigger. Consideration consists of the issuance of 12,192,525 Birch
Lake shares to Canadian Rigger shareholders at a deemed price of $0.1875 per
share for total consideration of $2,286,098.
    Of the 12,192,525 shares, a total of 3,567,258 shares are subject to a
Tier 2 Value Security Escrow Agreement dated July 29, 2010 to be released over
a 36-month period upon completion of the Qualifying Transaction. A total of
64,607 warrants are also subject to the same escrow requirements as the Tier 2
Value Security Escrow Agreement.
    For further information, please refer to the Company's Filing Statement
dated July 26, 2010 which is available on SEDAR.

    Insider/Pro Group Participation:

                             Insider equals Y/
    Name                     ProGroup equals P             No. of Shares

    David Stadnyk            Y                                   595,758
    George Tsafalas          Y                                   496,465

    Capitalization:          Unlimited shares with no par value of which
                            18,957,525 shares are issued and outstanding
    Escrow:                  6,567,258 shares

    Transfer Agent:          Computershare Trust Company of Canada
    Trading Symbol:          BLA (same symbol as CPC but with .P removed)

    Effective at the opening, Wednesday, August 4, 2010, the trading symbol
for the Company will change from BLA.P to BLA.

    The Company is classified as an "Oil and Gas" company.

    Company Contact:         William H. Petrie
                             President & Chief Executive Officer
    Company Address:         P.O. Box 1359
                             Cochrane, AB     T4C 1B3

    Company Phone Number:    (403) 850-2064
    Company Fax Number:      (403) 932-9974
    Company E-mail Address:  whpetrie@birchlakecapital.ca

    TSX-X
                      ---------------------------------
    

SOURCE TSX Venture Exchange

For further information: For further information: Market Information Services at 1-888-873-8392, or email: information@venture.com


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